Malaysia's definition of an SME
So what constitutes an SME in Malaysia? SMIDEC (Small Medium Industries Development Corporation) breaks them down into Micro, Small& Medium Enterprises. They are further divided into Manufacturing & Services based businesses. A hefty 81% of Malaysian SME's fall into the micro enterprises category (i.e. less than 5 employees).Malaysia's manufacturing sector has contributed on average 27% value-added to its national GDP (10-year average from 1990 to 1999)- second only in comparison to Thailand which averaged 28% (source: World Bank. A study published in the Asia Pacific Development Journal indicates however that there is a strong correlation between both the manufacturing and services sectors in ASEAN economies - i.e. investment in both sectors is essential for the expansion of both sectors. Full report here if you like academic stuff: http://www.unescap.org/pdd/publications/apdj_10_2/clemes.pdf
Malaysia has chosen to focus on the automotive and food sectors to spearhead further growth for its SME's. Automotive in this country usually means Proton and Perodua and food would likely be focused on the halal sectors. Right strategy? Maybe - worth digging deeper to see if we execute it correctly. More in upcoming posts .. watch this space!
posted by hew @ 11:17 am
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